Website: N/A
Stock Symbol: NASDAQ: MACC
Market Value: N/A (in millions)

MACC Private Equities Inc. was formed as a Delaware corporation on March 3, 1994. It has elected to be treated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). The Corporation has one direct wholly-owned subsidiary, MorAmerica Capital Corporation ("MorAmerica"). As of September 30, 2007, MorAmerica comprised approximately 99% of the Corporation's assets. MorAmerica is an Iowa corporation incorporated in 1959 and which was licensed as a small business investment company ("SBIC") since that year until the voluntary surrender of its SBIC license in December, 2007. It has also elected treatment as a BDC under the 1940 Act. Neither of the Companies has any employees. All of the Companies' day to day operations are carried out by its officers and the staff of its investment advisor, InvestAmerica Investment Advisors, Inc.